S&P 500 reaches record high amid rate hike easing

The S&P 500 index reached a record high, boosted by gains in technology stocks, particularly SanDisk and Micron Technology, after subdued producer price data strengthened expectations that the U.S. Federal Reserve will not raise interest rates in September. Strong outlooks from technology companies helped support the market, with memory chip stocks doubling in value, and the S&P 500 rose by 0.56% to reach 7,791.70 points, while the Dow Jones index experienced a slight decline. Market predictions also suggest a 63% chance that the Federal Reserve will keep interest rates unchanged at the upcoming meeting.

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